If an exemption request is approved by the Director of Finance, the exemption shall be in force for ten tax years and shall terminate thereafter. The exemption schedule is as follows:
Year | Percent Reduction on Improvement |
Year | Percent Reduction on Improvement |
1 | 100 |
2 | 90 |
3 | 80 |
4 | 70 |
5 | 60 |
6 | 50 |
7 | 40 |
8 | 30 |
9 | 20 |
10 | 10 |
(Ord. 4670. Passed 7-13-94.)